What is Bank of Canada?
Bank Of Canada (BOC) is the Central Bank in Canada.
Central bank is a national bank that provides financial and banking services for its country’s government and commercial banking system.
What is the role and function of a Central Bank?
- To set official bank rates used to manage inflation and exchange rates
- To issue a country’s currency
- To set targets and monitor economic data while they implement special tools.
Bank Of Canada is expected to hike their Interest Rates by 25 Basis Points from the current 1.75%. The last time they hiked their Interest Rates was on the 24th of October 2018. Bank Of Canada’s Interest Rates meetings are scheduled 8 times a year. The first one of 2019 is on the 9th of January.
I do better in my trading when I am more organized. Knowing when the important economic data is released, helps me a lot with planning ahead (I hate randomness). I will be publishing all significant economic data releases like Non Farm Payrolls, GDP,Retail Sales, Interest Rates etc, and their dates. I have started with Non Farm Payrolls, you can check the annual schedule HERE. Below is the annual schedule for Bank Of Canada’s Interest Rates meetings.